Replies to post #411 on MedMen Enterprises Inc (MMEN)

[JohnCM]

MedMen corrects statement about acquiring cannabis dispensary from Berkeley Patients Group

October 12, 2018

The California-based marijuana giant MedMen released a false statement this week saying it had signed a definitive agreement to acquire a licensed dispensary from Berkeley Patients Group, one of the nation’s oldest marijuana retailers.

After the statement was reported by news outlets and shared on social media, Étienne Fontán, the director of Berkeley Patients Group (BPG), wrote on Facebook that the Bay Area retailer was “blindsided” by MedMen’s “misleading” release.

MedMen corrected the release Thursday to clarify it had in fact acquired the license from B12, a limited liability company owned by five individuals, of whom two are principals at Berkeley Patients Group.

“Because of the overlap of players between B12 and (Berkeley Patients Group) and the contacts we were in conversations with during negotiations, we inadvertently used BPG when we should have used B12 as the party in the release,” wrote Daniel Yi, MedMen’s senior vice president of corporate communications, in an email to Marijuana Business Daily. “It was accidental, not intentional.”

The inaccurate release prompted Berkeley Patients Group to clarify via Twitter that the 19-year-old dispensary is in no way affiliated with MedMen, had not been sold and is not for sale.